Understanding Vietnam’s Regulated Gambling Landscape

Vietnam’s gambling sector, historically known for its stringent restrictions, is evolving in a way that balances economic opportunities with regulatory oversight. This transformation is a reflection of the country’s changing attitudes toward gambling in the context of its economic growth and technological advancements.

Vietnam’s approach to gambling has been conservative for much of its modern history, with only limited forms of legal gambling available. The national lottery, Vietlott, established in 2011, was among the few legal gambling avenues, thriving alongside Vietnam’s economic expansion. This era saw a rise in disposable incomes and, consequently, an increase in gambling activities.

The transformation of Vietnam’s gambling environment notably began in the early 2000s with the establishment of casinos along its border with Cambodia. These new gaming venues predominantly attracted locals from urban areas, notably Ho Chi Minh City. Meanwhile, within Vietnam, casino access was initially limited to international visitors, with these facilities primarily located in regions frequented by tourists. This phase marked a significant departure from the country’s traditionally restrictive stance on gambling.

The internet revolution in Vietnam, which saw a surge from 34% penetration in 2013 to 75% in 2023, set the stage for the rise of online gambling. Despite being illegal, local online gambling platforms started to emerge, and Vietnamese gamblers began accessing international online casinos.

In 2017, significant legal reforms were introduced with the Decree on Casino Businesses, allowing Vietnamese citizens to gamble in specific casinos under a trial program. This move marked a major shift in Vietnam’s gambling policy. Additionally, the same year saw the establishment of a legal framework for sports betting, covering horse racing, greyhound racing, and international soccer.

In early 2019, the Corona Casino in Phu Quoc opened its doors, becoming the first casino in Vietnam to permit local gamblers under strict regulations. Furthermore, in 2023, the Ministry of Finance licensed Vietnam Lottery to pilot a sports betting business, indicating the government’s continued interest in expanding legal gambling options.

Enforcement of gambling laws remains a challenge in Vietnam. Despite governmental efforts to regulate gambling, illegal activities persist, with Vietnamese citizens often crossing borders to gamble or turning to online platforms. The country’s laws are gradually adapting to these realities, acknowledging the economic benefits while striving to mitigate associated risks.

Vietnam’s gambling sector is at a crossroads, with its transition from strict prohibition to cautious legalization reflecting broader economic and social shifts. This evolving landscape offers potential for economic growth and tourism development, while also posing challenges in ensuring responsible gambling practices. As the legal framework continues to adapt, it is imperative for both residents and foreign entities to stay informed about the latest developments in Vietnam’s gambling regulations.

In conclusion, Vietnam’s regulated gambling landscape is undergoing significant changes, marking a shift from its traditionally conservative stance to a more open approach. This transformation is driven by economic considerations, technological advancements, and a growing recognition of the potential benefits of regulated gambling.